According to Deputy Prime Minister Tran Hong Ha, land pricing needs to be close, accurate, correct, and suitable to reality, and not push the difficult tasks down to the locality.
"The land valuation method must be feasible, scientific, transparent, and ensure fair benefits among people, businesses, and the State," the Deputy Prime Minister said while chairing a meeting with ministries, branches, and localities to resolve problems related to land valuation on the afternoon of October 30.
Considering that all problems and violations of the law when using land resources for economic development are mainly due to land valuation, the Deputy Prime Minister requested the Ministry of Natural Resources and Environment to ensure the accuracy and consistency of calculation formulas. The Ministry shall revise the conditions for applying the comparison method and supplement information, data, and indexes for land valuation from official sources; at the same time, quantify project development costs and the responsibilities of each agency and unit in the process of determining, appraising, and approving land prices.
Regarding the local proposal on land allocation and land use fee collection according to investment phases, the Deputy Prime Minister stated that competent State agencies must determine this when approving projects as a basis for implementation. Localities should urgently study the plan to determine coefficients and sub-indices to be applied in combination with the land price adjustment coefficient of land plots priced under VND30 billion (for centrally-run cities); VND10 billion (for mountainous provinces); VND20 billion (remaining localities).
"The Decree will be implemented locally, so we must give frank comments and point out shortcomings so that the Ministry of Natural Resources and Environment can promptly and practically absorb them. This is the responsibility and right of localities," said the Deputy Prime Minister.
Deputy Prime Minister Tran Hong Ha. Photo: Minh Khoi
At the meeting, Director of the Department of Planning and Land Resources Development Dao Trung Chinh said that after receiving instructions from the Government leaders and units, the drafting agency has completed the concept, order, content, and method of determining land prices. The conditions for applying each method of land valuation were also clarified. Accordingly, there are four methods of determining land prices including: Comparison, income, surplus, and land price adjustment coefficient.
The drafting agency also added detailed regulations on factors affecting land prices to ensure transparency and avoid price appraisers imposing their subjective will.
Vice Chairman of Binh Duong Provincial People's Committee Mai Hung Dung suggested clarifying the responsibilities of individuals and organizations in each stage of land valuation. "Local authorities should be allowed to decide on specific land prices more flexibly than the initial valuation results to attract investors," Mr. Dung suggested.
Vice Chairman of Hoa Binh Provincial People's Committee Quach Tat Liem proposed to have an independent appraisal agency for the development costs of investors in projects applying the surplus method.
Under current regulations, land prices are determined by one of five methods, such as direct comparison, deduction, income, surplus, and land price adjustment coefficient. The new draft Decree removes the deduction method.
The draft revised Land Law will be considered and approved by the National Assembly at its ongoing 6th session.
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